tradersams blog

AQP entry

AQP: Opened a position in Aquarius Platinum today at $6.64.

Entered the position is the share has made a new high, and if previous history is anything to go by (and when trading on a technical basis there is nothing else to work with!) this share will be volatile, and can move significant distances rapidly.  In this case I have gone with a stop loss that is spaced a bit further than usual, as I don’t want to get ‘bounced out’.  Lets see how this one goes.

tol close

TOL:  Closed my position in Toll Holdings today at 0.22, for a 10% loss – this was in the warrant tolwmb.

As you can see, the share has bounced off resistance 3 times now, so its hard to say how this share will continue.  For my analysis on entry see my writeup here.  I still have confidence in my original analysis, so I will look into how to continue this trade – subject to conditions of course.  Every trade has to be a discrete event.  I will look at my options around entry based on warrants / options or CFDs – however I wont say much now as I don’t have the time to research this next entry as yet… tomorrow maybe…?

The exit was taken today as the warrant was due to expire in 2 days, and I really don’t want to get caught looking to exercise a warrant.  A 10% loss on a warrant is not bad at all, given the leverage I was playing with.

Remember – stick to your stops!